Everpure (NYSE:P) Reports 38% Revenue Growth as Cash Outflows Draw Attention

Aditi Sarkar

17 October 2026 09:00 AM AEDT

Everpure (NYSE:P) Reports 38% Revenue Growth as Cash Outflows Draw Attention

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Highlights

Readers searching for Pure Storage (PSTG) will now find the same company under the name Everpure and the ticker.
The company announced its rebrand to Everpure on 23 February 2026 and said on 7 April 2026 that trading.
It remains NYSE-listed, shareholders needed to take no action and its CUSIP identifier is unchanged..
This continuity matters when reading older research, index records and filings, which may still refer to PSTG..

Everpure (NYSE:P) is at a consequential point in its latest reported developments. Readers searching for Pure Storage (PSTG) will now find the same company under the name Everpure and the ticker P. The company announced its rebrand to Everpure on 23 February 2026 and said on 7 April 2026 that trading under the single-letter symbol on the New York Stock Exchange was expected to begin on Friday 17 April 2026.

The Latest Developments

This continuity matters when reading older research, index records and filings, which may still refer to PSTG. The rebrand changes the name and symbol, and the CUSIP is unchanged, according to the company announcement.

The second quarter of fiscal 2027 ended on 2 August 2026, so the figures discussed below describe a period that finished more than two months before this article and may not reflect more recent trading.

Everpure announced second-quarter fiscal 2027 results on 26 August 2026 for the quarter ended 2 August. According to a published summary of the release, revenue was US$1.2 billion, up 38% year on year, with product revenue of US$687 million, up 54%. Subscription annual recurring revenue reached US$2.1 billion, up 20%, and remaining performance obligations were US$4.1 billion, up 44%.

GAAP operating margin was 5.3% and non-GAAP operating margin 19.4%. Chief executive Charles Giancarlo said the quarter marked eight straight quarters of accelerating revenue growth. The chief financial officer said the company is raising guidance significantly for the second half of the year; the specific figures were not available in the text retrieved, so they are not reproduced here.

The mix of growth is worth separating. Product revenue, which grew 54%, outpaced total revenue growth of 38%, which in turn exceeded the 20% growth in subscription annual recurring revenue. Remaining performance obligations of US$4.1 billion, up 44%, represent contracted revenue not yet recognised and indicate a sizeable backlog relative to quarterly revenue of US$1.2 billion. They are not a forecast of future revenue.

Cash flow and capital returns

Cash generation was negative in the quarter. Operating cash flow was an outflow of US$136 million and free cash flow an outflow of US$238 million. Growth in product revenue can tie up working capital, but the retrieved summary did not explain the cause, so investors should consult the full filing.

The company returned about US$69 million through the repurchase of roughly 0.9 million shares. Together, the strong revenue growth, the gap between the 5.3% GAAP and 19.4% non-GAAP operating margins and the cash outflow give a mixed financial picture that needs to be read alongside the reported balance sheet.

Share price and benchmark framing

Everpure closed at US$133.40 on Thursday 15 October 2026, compared with US$141.49 on Wednesday 14 October, US$156.97 on Tuesday 13 October and US$155.31 on Monday 12 October. That is a fall of about 15% over the two sessions after the 13 October close. The sources reviewed did not identify a company announcement explaining the decline, and no cause is attributed here.

Things to watch

Supported watch points include the specific second-half guidance figures in the full earnings release, the return of free cash flow to positive territory, and whether subscription annual recurring revenue growth of 20% keeps pace with product revenue growth of 54%. Management's claim of eight straight quarters of accelerating growth sets a very demanding comparison for upcoming periods. The next quarterly report date was not confirmed in the sources reviewed.

FAQs

Q: What is the latest reported development at Everpure?

A: Readers searching for Pure Storage (PSTG) will now find the same company under the name Everpure and the ticker P.

Q: What financial or operating figures are highlighted?

A: The second quarter of fiscal 2027 ended on 2 August 2026, so the figures discussed below describe a period that finished more than two months before this article and may not reflect more recent trading.

Q: What remains uncertain?

A: Future milestones and management guidance remain subject to the conditions and timing described in the company information.

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